USD/CAD likely to leave medium-term range for good

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 39% 57% -46.15%
Shorts 61% 43% 29.51%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Buy Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Neutral Buy
Alligator (13; 8; 5) Sell Neutral Neutral
SAR (0.02; 0.2) Sell Sell Buy
Aggregate

USD/CAD remained stable during the previous session, as the pair was fluctuating between the 1.2700 and 1.2650 marks.  

The US Dollar breached its six-week trend-line for a brief period of time prior to returning in the range and testing this November low one more time. The pair hindering near this line suggests that the US Dollar might be ready to breach its confinement for good. This is likely to set the rate for a decline during this week or even beyond. 

By and large, the general direction of the pair in this session is expected to be north towards the combined resistance of the weekly PP, the 100– and 55-hour SMAs circa 1.2760.  

On the other hand, the Greenback should fail to move below the weekly S1 at 1.2608.

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